Thank you - we do have all of those things (balance terms and rate) so I’m inclined to fix if we can. Totally take your point on the long term fixed I guess my only concern is that irelands rates might become more like the rest of Europe and we would miss out but for the comfort of knowing what the rate will be for majority of rest of term I think it’s worth it
Long term rates in Ireland are about the average in Europe. And whilst short term rates and variable rates are cheaper, the costs for the banks are cheaper too (especially repossession), so chances of banks here using those margins are zero.
For 15-20 year rates Germany is over 3% France is just under 3%, Portugal is 2.6%
Highly doubtful. This Bank of Portugal release says average mortgage lending rate is 1.03%. I don't know how you have 15-20 year rates of 2.6% consistent with that average.
My limited knowledge is that French banks will negotiate individually on the rate, so what you see advertised online is a maximum.
That BNP Paribas calculator gives me a headline rate of 1.1% for 5 years and 1.73% for 25 years. In practice these rates must be lower if the average long-term rate calculated for the market is 1.14%.
Even allowing for non-optional charges I don't see anything to support your original claim that 15-20 year rates are "just under 3%" in France.
I don't know the other markets as well but I suspect similar factors are at play. Irish lenders (like the British ones) generally don't negotiate on the rate in my experience.